The Staggering Cost of Elizabeth Warren’s $10.7 Trillion Green New Deal

  • Warren has released her plan to tackle climate change and usher in a green revolution.
  • The plan is estimated to cost $10.7 trillion and create 10.6 million jobs, which is more than $1 million for each new job created.
  • The Senator hopes the plan gives her a boost going into 2020.

Sen. Elizabeth Warren unveiled her plans for a Green New Deal on Friday.

Her strategy, designed to reduce carbon emissions and “defeat the climate crisis,” involves rebuilding the U.S. economy “with 100% clean energy” and creating 10.6 million jobs in the process.

Source: Twitter

But the price tag on her plan – a staggering $10.7 trillion – is eye-watering.

How is the Deal Funded?

Warren says a “new green bank” will help pay for her plan.

This bank will purportedly “open up new markets for greater investment” and expedite the substitution of fossil-fuel-based technologies with clean energy technologies.

Source: Twitter

Warren has also proposed issuing “Green Victory Bonds.” Pointing to the success of victory bonds during World War II, she claims these new bonds will allow Americans “to own a piece of the climate solution.”

$10.7 Trillion for 10.6 Million New Jobs

$10.7 trillion is a lot of money, especially when current U.S. debt is already more than $23 trillion.

But also, $10.7 trillion for 10.6 million jobs results in more than $1 million for each job created. And if you think that’s expensive, you’re not alone.

According to David Robalino, Manager of the Jobs Cross-Cutting Group, it costs the average coffee-shop in the U.S. between $25,000 to $35,000 to employ someone.

Of course, Warren’s Green New Deal isn’t intended to spur a revolution for baristas and servers. Her plan proposes expanding job training for skilled laborers and creating new union jobs for “large construction and engineering projects.”

But still, $1 million for each new job is still expensive. Consider research conducted by Robalino that looked at how many jobs were created…

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